THQ filed for bankruptcy back in December, with the filing revealing the titles of several new work in progress games. Those games, and games already announced and known, will now be offered up piecemeal (which means on a game by game basis) in an auction, set to run on the 22nd of January.
THQ originally planned to use Debtor In Possession funding, an idea knocked back by Judge Mary Walrath last week. Creditors requested three more weeks, with the idea that potential buyers could pick and choose individual assets.
In contrast, Clearlake’s bulk sale plans were rejected. Clearlake are currently funding THQ’s operations, with a figure of $60 million (with the intention to acquire its business) touted a while back. THQ’s creditors objected to the buyout, and the hearing was pushed back.
The latest update is that parties have come to some kind of agreement, with the sale to start in just over two weeks. EA and Warner are both said to be interested in THQ’s games – although it’s not clear which games each publisher might be wanting to pick up at the auction yet – with Clearlake also likely to still be in the game.
Ubisoft too are also in the game, according to reports. Saints Row is clearly the key franchise THQ currently own.